Contact
QR code for the current URL

Story Box-ID: 864484

Nexi Germany GmbH Helfmann-Park 7 65760 Eschborn, Germany https://nexi.de
Contact Mr Christian Drixler +49 69 79224681
Company logo of Nexi Germany GmbH

Change of ownership complete: Advent International and Bain Capital Private Equity are the new owners of Concardis GmbH

(PresseBox) (Eschborn, )
  • BaFin approves sale of Eschborn-based payment services provider without conditions
  • Next Step of development initiated
  • Investments in innovation and further acquisitions are to accelerate growth
  • Chairman of the Supervisory Board will be Stuart Gent, Head of European Portfolio Group at Bain Capital Private Equity
The German financial supervisor BaFin gave its unconditional approval to the acquisition of Concardis GmbH by Advent International and Bain Capital Private Equity. The transaction had previously been cleared by the European competition authority; so the takeover is now completed. The new owners are internationally experienced investors in the financial service sector and now intend to build an international payment platform. Advent International and Bain Capital Private Equity added the first building block back in April with the acquisition of the invoice purchase specialist Ratepay, which will expand the portfolio of services from Concardis.

‘Over the past two years, Concardis has become one of the leading full-service payment providers thanks to its strategic investments and focused acquisitions,’ says Stuart Gent, Co-Head of Bain Capital Europe Private Equity and the new Chair of the Concardis Supervisory Board. ‘We want to further develop the company and make it an even stronger player in German-speaking Europe through organic and inorganic growth. We will now tackle both targets – the internal transformation into a truly digital payments company and the strategic development of the company.’

‘We have a clear goal ahead of us: to keep developing Concardis as a consistently customer-focused player operating with clear strategic goals,’ adds Marcus W. Mosen, CEO of Concardis. ‘In order to achieve that, we have already started a series of development projects that will be expedited and supplemented as necessary after the change of ownership. At the same time, we need to strengthen our market presence and drive the strategic development of Concardis forward. The industry knowledge and strategic experience of our new shareholders will help us advance our business significantly. Our aim is to offer both small and medium-sized businesses efficient payment solutions for multichannel selling and to accompany large retail chains in their internationalisation strategies with cross-border payment products.’

With this change of ownership, Concardis GmbH is leaving the ownership of the German banking industry. The former shareholders were German private banks, cooperative banks, savings banks and DZ Bank. Originally focused on connecting retailers to the credit card system, the company has expanded its core business in the past two years to processing all cashless payments – at the point of sale, in e-commerce and for mobile transactions. With further investments in innovation and strategic acquisitions, Concardis is to continue on this track with the goal to establish a payment champion based in Germany.

The acquisition of Ratepay by Advent International and Bain Capital Private Equity that was announced in April this year forms part of this growth strategy. By bringing this invoice purchase specialist into the corporate group, Concardis will be rolling out a key German online payment method across the entire German-speaking region. A study by EHI Retail Institute puts the share of e-commerce transactions completed by invoice in Germany in 2016 at 29 per cent. The growth potential of shopping against invoice in the whole German-speaking area is estimated to be significant. In German-speaking countries, Concardis offers all offline and online payment methods from a single source.

Nexi Germany GmbH

Concardis is the leading full-service payment provider in German-speaking Europe. Concardis acts as a consultant and point of contact for some 116,000 customers with more than 470,000 connected terminals and is active in 118 countries. The company ensures seamless processes at the point of sale with its fast and convenient payment processes. With innovative solutions in e-commerce and m-commerce as well as for bricks-and-mortar shops, Concardis helps its customers realise sales across all channels and beyond national borders, thereby allowing them to profit from growing international retail. The payment service provider constantly works to increase added value for merchants and consumers when it comes to payment through the expansion of its services and the integration of complementary products and services. Thanks to its many years of experience, its close bonds to retail and in-depth knowledge of the payment market, Concardis is a sought-after partner and trailblazer for new payment products.

The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.
Important note:

Systematic data storage as well as the use of even parts of this database are only permitted with the written consent of unn | UNITED NEWS NETWORK GmbH.

unn | UNITED NEWS NETWORK GmbH 2002–2024, All rights reserved

The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.